Refinancing a Home with a Hawaii or California Reverse Mortgage

The federally-insured Home Equity Conversion Mortgage (HECM) is the most popular type of reverse mortgage on the market today and was created to make it easier for people over 62 years of age to access the equity in their home.

Reverse Mortgage (HECM) Overview:

The Hawaii  or California Reverse Mortgage allows homeowners to stay in their homes as long as they wish without making a monthly mortgage payment—provided homeowner’s insurance and taxes are kept current, and the home is kept in good repair.

Not only does the HECM eliminate monthly mortgage payments, but it can also be used to receive additional funds. How these additional funds are dispersed can be customized in order to suit each individual homeowner’s needs.

The amount of money that an eligible homeowner can receive depends on their age and the amount of equity they have in their home. There are absolutely no restrictions on what can be done with the funds disbursed from a reverse mortgage! The HECM becomes due when none of the original borrowers live in the home, if taxes or insurance become delinquent, or it the property falls into disrepair.

Important facts about the Hawaii Reverse Mortgage (HECM):

Federally Insured

You own your homenot the bank!

You never make another mortgage payment while you live in the home.

You can refinance or sell whenever you want with no penalty.

The money you receive from this loan is tax-free.

You can use your loan proceeds any way you wish. There are no restrictions.

Reverse Mortgages are available to purchase a home too!

Good Credit is not necessary to qualify.

The Loan Proceeds may be received as any combination of:

A lump sum
Monthly payments to you
In a Line of Credit to use when needed. And, the unused portion grows in value!

Contact us for a consultation and have all of your Hawaii reverse mortgage questions answered today!

You’ll find out:
Do I qualify for a reverse mortgage?
How much money can I get?
Is a reverse mortgage right for me?
How does a reverse mortgage work?
What kind of reverse mortgage products are available to me?

No Application Fee!

This material is not from HUD or FHA and has not been approved by HUD or a government agency.